BMO Capital Markets Boosts Ally Financial (NYSE:ALLY) Price Target to $37.00

Ally Financial (NYSE:ALLY) had its price target hoisted by BMO Capital Markets from $36.00 to $37.00 in a report published on Friday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. TheStreet upgraded shares of Ally Financial from a c+ rating to a b- rating in a research report on Thursday, January 11th. Raymond James cut shares of Ally Financial from a market perform rating to an underperform rating in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ally Financial in a report on Wednesday, January 10th. They set a buy rating and a $47.00 price objective on the stock. Morgan Stanley upgraded shares of Ally Financial from an equal weight rating to an overweight rating and increased their price objective for the stock from $37.00 to $47.00 in a report on Thursday, February 8th. Finally, Evercore ISI raised their price target on shares of Ally Financial from $41.00 to $43.00 and gave the company an in-line rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $38.47.

Ally Financial Trading Up 1.8 %

Shares of Ally Financial stock opened at $39.76 on Friday. The company has a fifty day simple moving average of $37.76 and a 200-day simple moving average of $33.13. Ally Financial has a 12-month low of $22.54 and a 12-month high of $41.56. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.50. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.58 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. Ally Financial’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Ally Financial will post 2.9 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s payout ratio is currently 48.98%.

Institutional Trading of Ally Financial

A number of hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI boosted its holdings in Ally Financial by 231.3% in the third quarter. National Bank of Canada FI now owns 294,927 shares of the financial services provider’s stock worth $7,550,000 after purchasing an additional 205,913 shares during the period. AE Wealth Management LLC bought a new stake in Ally Financial in the third quarter worth about $368,000. DnB Asset Management AS raised its position in Ally Financial by 6.6% in the third quarter. DnB Asset Management AS now owns 49,548 shares of the financial services provider’s stock worth $1,322,000 after acquiring an additional 3,082 shares in the last quarter. SG Americas Securities LLC increased its stake in Ally Financial by 53.1% in the 3rd quarter. SG Americas Securities LLC now owns 43,178 shares of the financial services provider’s stock worth $1,152,000 after purchasing an additional 14,972 shares in the last quarter. Finally, Rothschild Investment LLC IL increased its stake in Ally Financial by 4.6% in the 3rd quarter. Rothschild Investment LLC IL now owns 41,289 shares of the financial services provider’s stock worth $1,102,000 after purchasing an additional 1,803 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.